Taseko Mines (TKO) investor relations material

Strategic overview and growth trajectory

• Operating two major copper assets: Gibraltar in British Columbia and Florence in Arizona, with combined annual production set to exceed 200 million pounds as Florence ramps up.

• Gibraltar mine has a 19-year life, producing 125 million pounds annually; Florence offers 22 years of low-cost production at 85 million pounds per year.

• Florence's in-situ leaching method enables low costs (CAD 1.11/lb) and strong project economics, with after-tax NPV up to $2 billion USD at current copper prices.

• Name change proposed from Taseko Mines to Trekor Metals to reflect broader North American presence and growth.

• Strong financial position with CAD 170 million cash and an undrawn revolver, supporting ongoing project ramp-up.

Project updates and operational highlights

• Gibraltar mine has operated steadily since 2014, with 2024 production guidance at 110–115 million pounds, up 15% from last year.

• Florence mine began commercial production in February 2024; ramp-up ongoing with 2026 guidance of 30–35 million pounds and full capacity targeted for 2027.

• Florence's expansion involves drilling an additional 100 wells in 2026 to reach full production.

• Yellowhead project in BC is in environmental assessment, with 3–4 years of permitting ahead and a potential construction decision in four years.

• New Prosperity project advanced via a three-way agreement with BC and indigenous groups, including a CAD 75 million payment and 22.5% project trust for the Tŝilhqot'in Nation.

Financial and market positioning

• Combined NAV of Gibraltar and Florence estimated at CAD 5 billion, compared to a current market cap of CAD 3.5 billion.

• Florence's ramp-up expected to drive a re-rating and close the valuation gap.

• Company remains focused on North American copper production, leveraging long-term assets and a robust project pipeline.